The Interim Poverty Reduction Strategy Paper (I-PRSP) constitutes a commendable step towards developing a comprehensive poverty reduction strategy. It makes a fair assessment of the poverty situation based on existing information, affirms the government... Vea más +The Interim Poverty Reduction Strategy Paper (I-PRSP) constitutes a commendable step towards developing a comprehensive poverty reduction strategy. It makes a fair assessment of the poverty situation based on existing information, affirms the government The Interim Poverty Reduction Strategy Paper (I-PRSP) constitutes a commendablestep towards developing a comprehensive poverty reduction strategy. It makes a The Interim Poverty Reduction Strategy Paper (I-PRSP) constitutes a commendablestep towards developing a comprehensive poverty reduction strategy. It makes a fair assessment of the poverty situation based on existing information, affirmsthe government's commitment to poverty reduction, reviews the country's experience in poverty alleviation, outlines a medium-term economic strategy consistent with maintaining macro stability, and suggests a realistic process for developing te full-fledged PRSP. However, there are considerable risks involved in the process, mostly of a political nature. First, the impending elections could result in insufficient attention being paid to developing the PRSP, which could suffer in terms of quality and timeliness of preparation. The participatory process may also be adversely afected. Second, and more importantly, there may not be full commitment to the PRSP if the government changes towards conclusion of the process, as a new government might not consider the document to be its own. Thus the PRSP may need to be revised. In designing their poverty strategy, the authorities may take into account the following risks: 1) the extreme vulnerability of the Lesotho economy to external shocks; 2) weak institutional capacity to implement the strategy; and 3) uncertainties regarding foreign assistance flows.
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